Whole life insurance provides permanent protection for your family with premiums that never increase. Better still, a whole life policy builds cash value that you can use while you are living to reach your financial goals. Contact J Macpherson Insurance & Financial Services, LLC in League City, Texas, to speak with one of our local agents about whole life insurance.
Benefits of Whole Life Insurance
We all want to know that our loved ones are protected and will not suffer financial devastation should an unexpected death occur. Whole life insurance offers protection for both the future and the present. Benefits of this type of life insurance include death benefits, cash value, and dividend opportunities.
Death Benefits
With whole life insurance, your premiums will never increase, your coverage won’t change, and protection for your family is guaranteed to last a lifetime.
Cash Value
A whole life insurance policy accumulates cash value, guaranteed to increase over time. If you need money for college tuition, an emergency, or to supplement retirement income, you have access to funds you can borrow from your whole life policy.
Dividend Opportunities
Whole life policyholders are eligible to receive dividends, which can be used to increase insurance protection and cash value. Although they are not guaranteed, some insurance companies consistently pay dividends to participating policyholders.
Cost of Whole Life Insurance
Average rates are typically higher on whole life than on term life insurance policies because whole life policies have cash value buildup. Factors that impact the cost of whole life insurance rates include age, gender, health, occupation, and location. Our agent at J Macpherson Insurance & Financial Services, LLC can help you find a whole life policy that provides the most benefits for the best available rates.
